Sterling exchange rates are likely to alter significantly tomorrow morning at 9.30 dependant on how high inflation is running in the UK- if inflation is rampant then some of the Doves may be forced to grow talons and be pressed closer to a rate hike over the summer- a move that could be positive for the Pound. The pound did fight back a little from the early morning lows but made only slight headway against the Euro, but did a lot better against the...

Sterling exchange rates followed yesterday's gains with a disappointing day today losing ground against the Euro by nearly 1 cent even after UK PPI data came out better than expected, a result which would normally give the pound a boost. Sterling's losses appear to be caused by investors backing Europe to raise interest rates at a faster pace than the UK, I also believe the Portuguese bailout leaving the UK potentially out of pocket to the tune of €3bn will have detrimental affects on...

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Euro exchange rates are once again on the way up against the Pound and significantly versus the Dollar which has weakened substantially against both overnight. Yesterdays rate hike has helped the cause of anyone selling euros and any news which confirms expectations of two more interest rate hikes this year for the single currency will likely provide further support in the short term.
UK Producer Price Index released in the next 15 minutes could cause some further volatility on GBP EUR exchange rates.

GBP/EUR exchange rates have remained relatively steady throughout the day with the pound slightly gaining against the Euro to the tune of 0.3%. As expected the Bank of England kept its base rate on hold at 0.5% and the European Central Bank followed 45 minutes later by raising rates, as many expected, by 0.25% to 1.25%. Following the release we saw an initial surge in the Euros favour however Jean Claude Trichet's subsequent comments have paired back the Euros gains.
The next data set of...

The Euro has lost a little ground against the Dollar and the Pound from yesterday following portugal leeting us in on the worst kept secret and finally requesting the need for financial assistance from the EU.
Trichet didnt dissapoint markets and announced a 0.25 point interest rate rise for the Eurozone but didnt give strong commitments to a series of rate rises which some were looking for to ensure further gains for the Euro.

Following yesterday's positive gains we have seen the pound lose ground against the Euro further this afternoon. I do feel, however, that GBP/EUR rates hinge on tomorrows key interest rate decisions from the UK and Europe. Personally I believe the UK will keep rates on hold and this will have little impact, however of interest will be that of the ECB. Many analysts expect Europe to raise rates by 0.25% and I firmly believe this has been priced into the market (hence Euros recent...

Sterling exchange rates have taken a big hit this morning against both the Dollar and the Euro after UK PMI Manufacturing data came out a lot lower than expected. The disappointing figures have eroded much of the Pound's gains from yesterday and early morning trading.

Current Euro exchange rates will be dependant on GDP figures released today expected to come in at 0.3%. However if these figures are revised down it may discourage the ECB from raising interest rates in the short term which may mean Thursday's decision to hike becomes a lot less certain.
As posted yesterday, EUR USD rates did break the year high after the Fed Minutes suggested interest rates in the US will remain low for some time, allowing GBP USD rates to climb, and with rates...

The Euro remains close to breaking the year high recently seen despite poor Euro zone retail sales figures today- The FOMC Minutes release in the next two hours could prove very interesting in terms of future monetary policy for the Dollar and determine whether the Euro will break new ground in the short term...If you are selling Euros or buying Dollars keep a close eye on the next 3 days!
The Pound is up close to 1% against the Euro at market close, although Manufacturing...